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Post-Sandy Wall Street

Some residential complexes should take a cue from Lower Manhattan's office buildings, which have spent millions not only repairing the damage wreaked by Hurricane Sandy but have also put in place preventive measures?sure, in an effort to retain current tenants and attract new ones?to ready the structures for another big 'un. Owners of commercial giants like 199 Water Street (right) and 80 Pine Street told the Times that their price tags reached as high as $50M to move electrical and telecommunications equipment out of basements and install floodgates. Landlords lamented having to sacrifice parking spots and rentable office space in the name of preparatory efforts, but given that some buildings south of Canal are still shuttered from the storm, it's probably worth taking a hit now rather than later. [NYT; previously]